Puerto Rico Bankruptcy Court

Bankruptcy Case Closed (MACHARGO PEREIRA, AIDA)

Bankruptcy Case Closed (MACHARGO PEREIRA, AIDA) (Entered: 07/31/2017)

Certificate of service (RE: related document(s) 62) Notice Date 07/27/2016. (Admin.) (Entered: 07/28/2016)

NOTED (RE: related document(s) 53). Signed on 7/22/2016.(MACHARGO PEREIRA, AIDA) (Entered: 07/22/2016)

Certificate of service (RE: related document(s) 59) Notice Date 07/03/2016. (Admin.) (Entered: 07/04/2016)

Certificate of service (RE: related document(s) 58) Notice Date 07/01/2016. (Admin.) (Entered: 07/02/2016)

Notice to Creditors Consolidating Cases: Please take notice that upon the order by the Honorable Edward A. Godoy entered on 6/23/2016 (docket entry # 66 ), the cases #16-02428 and # 16-02426 have been consolidated. All further entries should be entered under the lead case 16-02428 EAG. (RE: related document(s) 26, 58). Signed on 7/1/2016.(MACHARGO PEREIRA, AIDA) (Entered: 07/01/2016)

United State Trustee's Position REGARDING STIPULATION FOR CASH COLLATERAL (RE: related document(s) 52, 55). filed by US TRUSTEE (DIAZ-VEGA, JOSE) (Entered: 06/27/2016)

Minutes of Proceeding/Contested Matters: Small Business: NO; Nature of Business: Inversiones Araxi: Owns real property; Buena Vista Plantation: rental of real property; Reasons filing bankruptcy: Cash flow problem; stop an execution of a Judgment; Time table to file Disclosure Statement and the Plan: 08/15/2016; Estimated professional fees: $20,000.00 for Attorney; $6,000.00 to $8,000.00 for Accountant; Anticipated significant event: Negotiations with LSREF2 Island Holdings; Need for future status conference: NO; 341 meeting status: held and closed; 05/03/2016 (Docket # 25); Application for employment of professional: For accountant to be filed by 07/01/2016. ORDER: For the reasons stated in open Court, the motion requesting substantive consolidation of cases 16-02426 and 16-2428, filed by LSREF2 Island Holdings LTD, Inc. (Docket # 26) is hereby granted. The consolidation will be effective on 07/01/2016. The lead case will be 16-02428 and the member case will be 16-02426. Debtor is to file consolidated Schedules by 07/01/2016, and the consolidated schedule B shall include the account receivable for the insider. The objection term as to the second stipulation to use cash collateral filed between the Debtors and LSREF2 (Docket # 62 ) is shortened to fourteen (14) days (due by 07/06/2016). Any modification to this stipulation should be made within seven (7) days (order due by 07/01/2016). The parties are to re-notify the stipulation with the shortened objection term and include in the same that if any objection is timely filed, the same will be heard on 07/21/2016 at 09:30 A.M. in Ponce, P.R. The objection term as to the Stipulation filed between the Debtor and PREPA (Docket # 63 ) is shortened to fourteen (14) days (due by 07/06/2016). As to the motion requesting sanctions against Debtor and/or its Attorney filed by LSREF2 (Docket # 19), LSREF2 is to file a Bill of Costs by 07/01/2016 with a fourteen (14) day objection term. If any objection is timely filed, the same will be heard on 07/21/2016 at 09:30 A.M. in Ponce, P.R. Debtors are to file the Disclosure Statement and Plan by 08/15/2016. Debtors are to file an application to employ accountant by 07/01/2016. Debtors applications to employ appraiser (Docket # 46 in both cases) are hereby approved. Objections to claims must be filed forty-five (45) days prior to the hearing on confirmation. Debtor will include in its objection to claim a notice that if no response to the objection is filed within thirty (30) days, the motion will be considered and decided without the actual hearing. If a written response or opposition to the objection to claim is timely filed, the contested matter will be heard on the date that the hearing on confirmation has been scheduled. Order due by 7/1/2016. (Re: related document(s) 19, 26, 27, 30, 37, 45, 47, 52, 55).(REYES TORO, WILLIAM) (Entered: 06/29/2016)

PDF with attached Audio File. Court Date & Time [ 6/23/2016 10:32:54 AM ]. File Size [ 13276 KB ]. Run Time [ 00:55:19 ]. (admin). (Entered: 06/24/2016)